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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    900 E Hill Ave Knoxville, TN 37915

    • Casinos
    • 19,137 SF
    • 12.80 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Aug 30, 2022
    $9,350,000
    Value Estimations
    $9,275,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3417125
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rainbow System Sales and Service / Big Box & Wholesale Store
    • University of TN Medical Center Home Health Services / Home Health Care Service / Hospital
    • Campus America / (Bike/Boat/Book/etc) Store / Corporate Office
    • Hawk Amber C / Counselor
    • Engineering Services Group, Inc. / Construction Company

    Property Details for 900 E Hill Ave

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.80 lot acres
    Property size
    19,137 SF
    Property type
    Casinos
    APN
    095GQ001
    APU
    095GQ001

    Description

    This exceptional 1,790 square foot traditional office suite is located at 900 E Hill Ave, Knoxville, TN 37915, in Knox County. The single-tenant space boasts high visibility and stylish recent renovations. Features include a striking faux brick wall facade, eye-catching barn doors, and modern barn lighting, creating a unique and attractive workspace. The layout offers 4-5 private offices, providing ample space for individual work or small teams, along with additional open areas for collaborative work or expansion. A convenient kitchenette is included, along with two restrooms and multiple storage spaces for efficient organization. The property's prime location offers excellent accessibility and visibility. A virtual tour is available online via the provided Matterport link. This is an ideal space for a business seeking a move-in ready, stylish, and functional office environment in a desirable Knoxville location. The suite is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,125,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $7,980,000
      APARTMENT HOUSE (5+ UNITS)
      $5,970,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9057
    Latitude
    35.969
    CBSA code
    28940
    CBSA name
    KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $102,173
    $0.00
    $0.00
    $2,754,280
    -
    $1,773,300
    $5,112,400
    $6,885,700

    Comparable in this City

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    • Value Estimation by Request
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      2309 Martin Luther King Jr Ave

      CASINO • 2,300 SF
      2309 Martin Luther King Jr Ave, Knoxville, TN 37915-1619
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      $3,275,000
      21,892 SF

      111 Jackson Ave

      CASINO • 21,892 SF
      111 Jackson Ave, Knoxville, TN 37915-1000
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      $5,340,000
      35,992 SF

      400 Harriet Tubman St

      CASINO • 35,992 SF
      400 Harriet Tubman St, Knoxville, TN 37915-1339
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    • Value Estimation by Request
      2,108 SF

      1924 Laurans Ave

      CASINO • 2,108 SF
      1924 Laurans Ave, Knoxville, TN 37915-2607
      View Details
    • Value Estimation
      $1,610,000
      10,851 SF

      2202 Martin Luther King Jr Ave

      CASINO • 10,851 SF
      2202 Martin Luther King Jr Ave, Knoxville, TN 37915-1570
      View Details

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      Live-Work Space with River Views

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    Similar Nearby for Lease

    • $16 SF/Yr
      3,375 SF

      Professional Office Space For Rent

      3,375 SF office suite with high visibility location.
      900 E Hill Ave, Knoxville, TN 37915
      View Details
    • $12 SF/Yr
      4,050 SF

      Versatile Knoxville Commercial Property

      4,050 sq ft space with office and warehouse areas.
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      View Details
    • $18 SF/Yr
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      Retail Space with Gas Pumps

      Community shopping center with anchor space and gas pumps.
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    • $38 SF/Yr
      8,476 SF

      Retail Space Near Knoxville Stadium

      Retail spaces available Summer/Fall 2025 near Knoxville Multi-Sport Stadium.
      455 Willow Ave, Knoxville, TN 37915
      View Details
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    900 E Hill Ave
    Knoxville, TN 37915
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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